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My Journey to

FREED​OM

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And So It Begins...

10/10/2016

7 Comments

 
...well that may not be the God's honest truth. If you haven't checked out the about me section I'm a 24 year old already fed-up/over/tired of the rat race. I want out...by 30. Five and half years to go. Piece of cake. Right?

Let me start by giving you a little more detail about me and my current financial picture. Graduated from a public university 2 years ago with a degree in Finance & Insurance (yes, people go to school for insurance) with no loans due to my father being a disabled vet. After graduating I landed a pretty awesome gig - 1 year rotational training program, all rent and travel employer paid on top of a $50k salary. No rent, no student loans, $50k salary; surely I took full advantage of this opportunity. WRONG. With no reason to really watch expenses since there were none besides groceries and a cell phone bill; the money started to flow out. After nights out drinking, fancy dinners and trips home to visit my girlfriend I would often wonder where all my cash went. A smarter man would have taken this golden opportunity and saved at least $20k.

A year goes by and I finish the training program with only $1,100 in savings. Now that I'm a regular employee, I'm responsible for transportation and rent. So I get an apartment with my girlfriend and buy a reasonably priced car for about $22k. Went from no rent and transportation expenses to $500 in rent (all inclusive living) and a $300 car payment. Although my permanent position came with a $5,000 "raise" I actually took a hit to my disposable income due to the obligations of living and working.

One more year passes and I get tired of paying rent for a place I'm never going to own, so I buy a house.  During this time I got another raise of $3,000, but I also now have a $1,100 mortgage, responsible for utilities, furniture, lawn mower, etc. etc. - essentially no real progress. Throw in a puppy, an engagement ring, and credit card; I'm looking at about $210,000 in debt.

Writing this all out allows me to see my issues. I graduate debt free and land a job where I have no expenses outside of groceries and cell phone, but I failed to save. PLAN TO SAVE. With every pay increase, I just had to increase my expenses. 1 step forward 2 steps back. AVOID LIFESTYLE INFLATION. Easier said than done. And that's what pains me the most, all the while I knew what I should have been doing, but for the life of me... I just didn't. I won't allow myself to become more ensnared in the "American Dream". I'm breaking free by 30 and I'm using this blog to keep myself on track. Hopefully I can also help someone else along their way.
7 Comments
Breey
10/18/2016 08:12:22 am

Awesome stuff, definitely inspired me to start my own journey to financial freedom.Looking forward to reading up on your journey!

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Thirty&Free
10/18/2016 05:23:12 pm

Thank you! Glad I could be some type of inspiration. I need you to keep me on track!

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Stancil
10/18/2016 10:52:55 am

Damn Alex LOL. Great post! Don't feel bad. Im in this same situation smh. Just mine is student loans and not a mortgage and credit cards. I could have gone to a VA public school free on my pops vet visibility too but I took the loans and went to Howard. Everything happens for a reason tho. At least u learned from it and have a plan to get out of it.

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Thirty&Free
10/18/2016 05:21:28 pm

I'm sure you weighed your options and made the right choice. That Howard education and connections can take you a looooong way. I'm interested to see what your goals and plans look like next week... if you want to share *insert eye emoji* lol

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Stancil
10/19/2016 12:53:36 pm

Lol sure I don't mind. I'll subscribe to your rss feed so I can be notified of next week's words of wisdom.

Jacque link
11/13/2016 10:51:45 am

My word of advice to you stay focus; not until recently I just realize money is easy to make you just have to tap into your gift and use it to the best of your ability. Think positive, speak positive of what you want and where you see yourself in short term lay out your goals and make them reachable.. some say do the 10x10x10 rule. in my business I have the 50x50x50 rule I do nothing under 50.00 but that's because I know it has to be that way or it's not worth my time.. today I wrote my business goals down again to stay focus because there are things I hope to accomplish this year that I didn't last year. I ask you to continue to watch because I hope to big one of your biggest motivators from rags to riches and hopefully one day all that I do I want it to benefit my family as well...thanks for sharing you insight.

Reply
Thirty&Free
11/13/2016 01:52:41 pm

Staying focused is tough but I gotta keep reminding myself of where I want to be and what I want to achieve. And yes I'm watching ya, you doing the thing! Gotta keep each other going.

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Hello! Alex here. Saving and earning my way to financial freedom by thirty! Follow me on my journey!

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